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The press release issued this morning and all related tables, as well as the conference call slides, can be found on the Investor Relations portion of our website at tyco.com. Please also note that we will be filing our quarterly SEC Form 10-Q later today.Certain items to be discussed during today’s call, including those related to the company’s proposed separation, will be addressed in a proxy statement to be filed with the Securities and Exchange Commission. Before making any voting decisions, investors are urged to read the proxy statement regarding the proposed separation and any other relevant documents carefully in their entirety as they become available, because they will contain important information about the proposed separation. Free copies of the proxy statement when available and other documents filed with the SEC by Tyco can be obtained through the SEC’s website, as well as through Tyco’s website. I would also like to remind you that we recently filed a Form 10 registration statement related to the ADT Corporation and posted a slide deck related to the Form 10 to our website. We also intend to file documents with the SEC, related to the Flow Control and chair merger and the Tyco shareholder votes related to the transaction within the next week. Due to the SEC filing process, we are restricted in what we can say with respect to the transactions and therefore ask that you limit your questions during to Q&A session to those related to our quarterly results. In discussing our segment operations, when we refer to changes in average revenue per user, backlog and order activity, these figures exclude the impact of foreign currency. Additionally, references to our operating margins during the call exclude special items and these metrics are non-GAAP measures. Again, these non-GAAP measures are reconciled in the schedules attached to our press release.
Now, let me quickly recap this quarter’s results. Revenue in the quarter of $4.4 billion increased 9% year-over-year with organic revenue growth of 7%, nicely ahead of our previous guidance. Foreign currency negatively impacted revenue by less than 1% and acquisitions added three percentage points to our overall year-over-year revenue growth.Earnings per share from continuing operations attributable to Tyco common shareholders was $0.71 and included charges of $0.15 related to special items. Earnings per share from continuing operations before special items was $0.86. Now, let me turn the call over to Ed for some opening comments. Ed Breen Thanks Antonella and good morning everyone. Our second quarter performance was highlighted by strong organic revenue growth. Order momentum over the last few quarters, coupled with continued growth in our ADT Residential business continues to drive higher top line growth. Our large and stable base of recovering and service revenue, which represented 45% of our revenue in the quarter, coupled with strong operating leverage led by the Fire and Security manufacturing businesses drove the operating performance of this quarter. Additionally the benefit from our restructuring and cost containment initiatives helped fund additional investments across our businesses. Overall, operating income before special items increased 15% and earnings per share before special items increased 18% year-over-year. From an orders perspective, we saw continued acceleration from the 8% year-over-year order growth we saw in the first quarter, to 13% growth in the quarter we just exited, with 9.5% growth in Fire and Security and 21% growth in Flow Control. Our order activity combined with continued growth in our backlog puts us on track for even better operating performance in our seasonally stronger second half. Now let me give you a quick overview of our results for each of the businesses. Starting with the new Fire and Security segment, the combined portfolio provides the nice mix of service, installation and product offerings. Top line growth in the quarter benefited from both an acceleration in organic growth, as well as the contribution from the various bolt-on acquisitions we recently completed. Our operating performance in the quarter was strong. Operating income grew twice as fast as revenue, resulting in a 70 basis point improvement in operating margin year-over-year. Read the rest of this transcript for free on seekingalpha.com